Indian market took a good positive start and faced heavy selling pressure at higher levels , as a result indices took a deep dip but good buying especially in banking stocks took market again above the dotted line. Profit booking was seen in IT and along with oil & gas and Realty. The Sensex closed at 19196, down 28 points from its previous close, and Nifty closed at 5754, down 9 points. The CNX Midcap index was down 0.3% and the BSE Smallcap index was down 0.5%. The market breadth was negative with advances at 421 against declines of 882 on the NSE. The top Nifty gainers were Hindalco, Axis Bank, Bajaj Auto and Sesa Goa and prime losers included Suzlon, TCS, JP Associates and Infosys. The FIIs were net sellers with sales worth Rs 1162.57 Cr

Market Outlook

In the next session, NIFTY has built a strong support at 5690. Now, traders may stay long as long as NIFTY holds 5690. Banking heavyweights, FMCG and AUTO may attract buying while Real-estate and OIL-GAS may appear weak.

Expected Bullish Stocks

INDUSIND
ACC
ADANIENT
TATACOMM
BHARTIARTL
PNB
GLENMARK
SESAGOA
EDUCOMP
HAVELLS
VOLTAS
DABUR
RCOM
TATACHEM
SBIN
ICICIBANK
BANKINDIA
HCLTECH

Expected Bearish Stocks

HDIL
SUZLON
EIH
DISHTV
NAGARCONST
IBREALEST
APIL
DBREALITY
JPASSOCIATE
PUNJLLOYD
SUNTV
WELCORP
UNITECH
Castrol
PATNICOMP
LICHSGFIN
SCI
ABAN